Foundation Awards $8.4M to Alaska organizations

Published: December 3, 2011

Total dollars granted highest since economic downturn

December 2, 2011 – Rasmuson Foundation's Board of Directors met this week in Anchorage and awarded $8,356,282 in Tier II grants and investments for nonprofit projects in communities that stretch from Ketchikan to Togiak.

The dollar amount of awards made at the board meeting is the highest since July 2008 and reflects a moderate rebound in the assets available for new projects.

"We are thrilled with this announcement," said Diane Kaplan, president of Rasmuson Foundation. "It's taken a few years, but through planning and careful management of our funds, we are able to increase the amount of support we can provide to important community organizations.

"If things stay on course with the markets and the economy, the Foundation will be positioned to provide funding opportunities at levels higher than we've seen in the past couple of years," she added.

These grant awards were made from Rasmuson Foundation's Tier 2 program, which supports large capital (building) projects, projects of demonstrable strategic importance or innovative nature, or the expansion or start-up of innovative programs that address issues of broad community or statewide significance. The Board of Directors considers Tier 2 grants, which are more than $25,000, twice a year at its board meetings. Letters of inquiry are required and accepted year-round.

In addition to the Tier 2 awards, the Foundation allocated $2 million to support an ongoing philanthropy initiative, and $500,000 for costs associated with program related investments.

About the Foundation
The Rasmuson Foundation was created in May 1955 by Jenny Rasmuson to honor her late husband "E.A." Rasmuson. Through grantmaking and initiatives, the Foundation is a catalyst to promote a better life for all Alaskans.